India is witnessing a high growth in the market for Active Pharmaceutical Ingredients (APIs) which can be gauged from the factors that make it a strategic market in the global pharmaceutical market. The API sector is being pushed forward by the growth in demand for pharmaceuticals resulting from an increase in chronic diseases, an aging population, and an increased emphasis on healthcare. The Indian API market is poised to grow at a compound annual growth rate (CAGR) of more than 10 per cent over the next five years. This growth is one of the primary catalysts to it as the shift in pharmaceutical manufacturing practices is bringing many companies to produce APIs in house to avoid supply chain risk exposed during the pandemic. Investments in API manufacturing facilities across the country are on the rise due to this trend.

Additionally, India’s image as a global leader in generic medicines adds strength to its API market. The country constitutes an important part of the APIs which are used in generic drugs supplied worldwide, and there is still scope for the continuous expansion of export potential, thanks to ongoing collaborations between local companies and global pharma giants. This growth is also being supported by the Indian government which is promoting self-reliance through its Production-Linked Incentive (PLI) scheme to boost domestic manufacturing capabilities. These measures not only foster investment but also help develop the high value APIs for complex generics and biosimilars.

Keeping tabs on this market, India Pharma Outlook has shortlisted the select few companies that have exhibited an unrelenting pursuit of excellence. By proving their dedication to fulfilling employee expectations and contributing to the market’s evolution through their innovative disposition, these firms are blazing a trail.

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